Accounting, daredevil (dodgy accounting)

The preparation of a balance sheet that is formally correct, but in which significant risks are understated. – Auditors have often given their unqualified opinion to such misleading balance sheets, as in the course of the Enron bankruptcy in 2001 and the WorldCom bankruptcy in 2002. This comes close to fraud and leads to considerable credit losses for the banks affected. Suppliers and other creditors also suffered losses as a result, in some cases threatening their very existence. – See Anderson scandal, accounting cosmetics, accounting scandal, accounting, manipulative, enforcement, intra-quarter ballooning, Sarbanes-Oxley Act, Substance-overForm principle, auditors.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/